The Dow Jones is down almost 200 points while the Nasdaq and S&P 500 are climbing higher. The news of a dispute between China and the U.S. about restrictions put on the Chinese company Huawei sent stocks lower before the opening bell today. Steve Mnuchin and Fed Chair Jerome Powell testified before the Senate committee today to discuss the economy and the support Americans are receiving from our government.
TheStreet's Katherine Ross discussed today's breaking news in the stock market on StreetLightning with Jim Cramer. Cramer discusses his worries about Disney Parks reopening too soon, the performance of Mnuchin and Powell, and Walmart's earnings.
Should We Be Worried About Disney Parks?
Disney+ exec Kevin Mayer is leaving Disney for Tiktok but what does this mean for Disney's streaming service and the company? Disney was downgraded by Loop Capital today after yesterday's news because they like Netflix and Facebook more.
That's not what is concerning Cramer about Disney. Cramer will be looking at how Disney handles the parks reopening this year.
Can Mnuchin and Powell Contain the Damage?
The fears many have during this coronavirus pandemic is how long it will take for small businesses to recover. Will companies not named Amazon, Walmart, Microsoft, Apple or other industry giants be able to survive the slowing of the economy during the quarantine? Mnuchin and Fed Chair Powell have working to support the markets during these uncertain times but will it be enough?
Cramer discusses how Mnuchin and Powell have done during the recession.
Walmart Tells the Market Story
Walmart reported earnings this morning and beat forecasts as panic buyers have made Walmart (WMT) - Get Report one of the top places to go during the coronavirus pandemic. Walmart continues to be one of the top competitors in the retail space for Amazon and Target will report tomorrow to see if they can join the two giants as one of the top quarantine stocks.
Here is why Cramer is watching Walmart stock closely during the coronavirus pandemic.
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